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US attacks destroy military facilities on the island of Kharg in the Persian Gulf, but the oil infrastructure is spared – for now. Experts fear that an attack could cause oil prices to explode.
Where is the island of Kharg and what significance does it have for Iran?
Charg (Kharg) is located in the Persian Gulf, about 50 kilometers northwest of the port of Bushehr. Oil terminals, oil tank farms, power plants and desalination plants dominate an area of around 20 square kilometers. The island is considered an irreplaceable logistical backbone for the country’s export economy. According to energy experts and financial service providers, around 90 percent of Iran’s oil exports go through Kharg Island. In recent years, the terminal has reportedly been able to load ten supertankers simultaneously for transoceanic transport. By far the most important buyer of Iranian oil is China.
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Source: Getty Images ©Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2024
What targets did the US military attack on Charg?
According to US President Trump, all military targets on the island have been wiped out. According to the US Regional Command (Centcom), a large-scale precision strike destroyed sea mine storage facilities, missile bunkers and numerous other military facilities. The US armed forces managed to hit more than 90 Iranian military targets without damaging the oil infrastructure.
Air defense installations, a military base, a control tower and a helicopter hangar were other targets, according to Iran’s Fars news agency. The New York Times quoted a representative of the Iranian oil ministry as saying that the vibrations after the explosions, which lasted around two hours, felt like an earthquake. According to military experts, the island is now without military protection.
What does US President Trump want to achieve with the attacks?
US President Trump wants, in his own words force Iran to reopen the Strait of Hormuz. Trump wrote on his Truth Social platform that he refrained from destroying the oil infrastructure “for reasons of decency.” If Iran or anyone else tries to obstruct the passage of ships through the Strait of Hormuz, it will “immediately reconsider” that decision.
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What consequences would an attack on the Kharg oil facilities have on the Iranian and global oil market?
An attack on Khargh’s oil infrastructure would immediately halt much of Iran’s oil exports, a senior Iranian oil ministry official told the New York Times. Experts have predicted this could push oil prices, already above $100 a barrel, to as high as $150 a barrel. Not only are around nine out of ten barrels of Iranian crude oil exports processed on Charg – Iran’s global oil supply also accounts for around four percent of the global oil market.
What consequences is Iran threatening?
For days, the Iranian leadership and the Revolutionary Guards have been threatening retaliation if the country’s energy sector or ports are attacked. According to the Guards command center, in the event of the slightest attack, Iran will set fire to the region’s oil and gas reserves, in which the United States and its Western allies have a vested interest. No port or economic center in the Persian Gulf would then be safe.
